Wells Fargo Could Claw Back $17 Million From Retiring Tolstedt

  • Unvested stock can be recouped following ‘reputational harm’
  • Clawback decisions will be made by board, CEO Stumpf says

Wells Fargo Alerts Customers on Fake Accounts

Wells Fargo & Co. could recoup about $17 million in unvested shares from retiring executive Carrie Tolstedt, a fraction of the compensation the former head of community banking has received over her 27-year career, according to figures compiled from regulatory filings.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.